LL Bean’s '08 sales dropped, layoffs to come

In its most recent fiscal year, which ended with the close of February, LL Bean posted a 7.8% decrease in revenue, for a total of $1.5 billion, according to a company spokesperson.

The company expects sales will be down again in 2009 and is bracing for the liklihood of layoffs.

“We are working through the budget process now, and it appears” that layoffs will be taking place, according to Carolyn Beem, company spokesperson.

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